Now In Korea
K-Food and K-Beauty Drive New Wave in South Korean Exports
Creatrip Team
3 months ago
Korean food (K-food) and cosmetics (K-beauty) have become a new growth pillar for South Korea’s exports as the country surpassed $700 billion in exports this year. From January to November, combined K-food-plus exports reached $12.34 billion (projected about $13.5 billion for the year), led by ramen — which surpassed KRW 2 trillion in sales and set record highs for the 11th consecutive year. Ice cream and grapes also showed strong growth amid rising global demand for ready meals and desserts. Agricultural and food shipments grew most to the U.S., followed by China and Japan.
K-beauty recorded an even sharper rise, with cosmetics exports totaling $10.4 billion through November, up 11.4% year-on-year. For the first time the U.S. overtook China as the largest market for Korean cosmetics, as brands expand beyond online sales into major offline retailers like Costco and multi-brand shops. Product mixes are diversifying from basic skincare to color cosmetics and haircare, with U.S. hair product exports up 28%. European and Middle Eastern markets showed the highest growth rates, notably strong gains to Poland, UAE, France and the U.K.
The government plans to treat consumer goods as a next-generation growth engine, aiming to boost consumer-goods exports 64% by 2030 to $70 billion, increase trade insurance and offer low-interest loans for K-food and K-beauty companies. Experts say continued success relies on promoting the industries broadly alongside individual brands.
(Notes: "K-food" and "K-beauty" refer to global popularity of Korean food and cosmetics.)
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